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Savings account versus money market

Savings account versus money market

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But high-yield savings accounts have Deposit amount required to qualify as they often offer a. The investing information veesus on this page is for educational assuming you receive e-statements and.

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Regular Savings vs High-Yield Savings vs Money Market vs CD?4 Types of Savings Accounts (explained)
A money market account is a type of savings account that usually offers a higher interest rate and easier access to your money than a regular. Money market account vs. savings account: Money market accounts are a kind of savings account that typically offer debit cards and checks. Money market accounts offer flexibility with check-writing and debit cards, savings accounts are more accessible and have lower fees, and CDs.

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As with money market accounts, banks were limited in the number of withdrawals that were permitted from savings accounts to six each statement period. Typically, a brick-and-mortar or traditional bank's money market account has higher monthly service fees but offers a better interest rate compared to its savings account. Savings accounts can be a good place for people to put their cash for short-term needs such as home renovations, vacations, cars, or emergencies like medical or dental bills. Banks generally lend this money to others for car loans, lines of credit , and credit cards so the banks can make money on the interest they charge.